Verizon indicated that it is live streaming benefit concerts in order to help support small businesses that have been affected financially by the outbreak of COVID-19. The benefit concerts are under the name, ‘Pay it Forward,’ and the first one featured Dave Mathews. The company will also be announcing other artists that will participate at a later date.
Verizon is also contributing a sum of $2.5 million USD to Local Initiatives Support Corp, which is a non-profit organization that works to help small businesses. Through this organization, small businesses will be able to receive a grant of up to $10,000.
The concerts will be Livestream on Twitter, as well as Yahoo Entertainment and on some cable services, including FiOS fiberoptic.
Image Credit: Retrieved from Verizon.
What's Driving This Trend
- Live Streaming Benefit Concerts
- Opportunity to leverage live streaming platforms to support small businesses and provide entertainment during challenging times.
- Small Business Support
- Disruptive innovation opportunity to create programs that specifically target financial aid and resources for small businesses affected by crises.
- Partnerships with Non-profit Organizations
- Collaborative opportunities to work with non-profit organizations that focus on supporting small businesses and create mutually beneficial initiatives.
Who This Affects Most
- Telecommunications
- Opportunity for telecom companies to offer live streaming services and partnerships to support small businesses and promote their own platforms.
- Entertainment
- Innovative approaches to using entertainment platforms and events to generate support for small businesses and engagement with audiences.
- Non-profit Organizations
- Explore technological advancements and partnerships to enhance the reach and impact of providing financial aid and resources to small businesses.
